Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Sells $205,100.00 in Stock

Cirrus Logic, Inc. (NASDAQ:CRUS) EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cirrus Logic Price Performance

CRUS stock traded up $7.95 on Wednesday, reaching $109.34. The company’s stock had a trading volume of 1,862,553 shares, compared to its average volume of 745,153. The firm has a fifty day moving average of $102.43 and a two-hundred day moving average of $116.21. The company has a market capitalization of $5.81 billion, a P/E ratio of 18.53 and a beta of 0.91. Cirrus Logic, Inc. has a 52 week low of $77.49 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. As a group, equities analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRUS. FMR LLC lifted its stake in shares of Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after acquiring an additional 217,404 shares during the period. Pacer Advisors Inc. increased its stake in Cirrus Logic by 44.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock valued at $126,247,000 after buying an additional 387,346 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cirrus Logic by 4.7% during the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after buying an additional 50,582 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Cirrus Logic by 137.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after buying an additional 604,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after buying an additional 129,457 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRUS has been the subject of a number of analyst reports. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Barclays boosted their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Susquehanna lifted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Wednesday. Finally, Loop Capital began coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cirrus Logic has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.